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European law firm Fieldfisher has advised Truly Group on its acquisition of Alpharooms, the mid-sized UK online travel agent and trade accommodation supplier, for an undisclosed sum.
Truly Group which operates under the brand Teletext Holidays, as well as Media Travel, Beat the Brochure, Travel Club and Low Cost Packages.
Alpharooms carries 850,000 passengers annually and the brand will continue to operate separately.
The Fieldfisher team was led by corporate partner David Wilkinson who was supported by Tom Ward (corporate director), Andrew Prowse (Tax Partner) and Rhys Griffiths (Travel Regulatory Partner).
David Wilkinson said: "This is the second corporate deal on which we have advised Truly Group and it was a pleasure to work with them on this transaction. The transaction was particularly complicated due to the need for a pre-sale restructuring of the target group, with a double demerger needing to be undertaken within the context of a travel regulated business. Our extensive experience of the travel sector meant that we were able to ensure that the transaction kept on track and to time."
Peter Panteli, the commercial director of Truly Group, said: "This is a very exciting deal, which overnight more than doubles the group's hotel buying power."
Fieldfisher's Travel team is top ranked by both Chambers and Legal 500, and consists of experts who regularly advise household names on regulatory issues, disputes, M&A, data protection and brand, advertising and media issues. The group advises both household names and some of Europe's most exciting growth companies.